Environment

Ministry proposes investment change to forest sector modernisation project

The Ministry of Agriculture and Rural Development has recommended that the Government adjust down the investment of a World Bank-funded project serving forest sector modernisation and coastal resilience enhancement from the initial 195 million USD to 95 million USD.
Ministry proposes investment change to forest sector modernisation project ảnh 1The project has so far contributed nearly 4,000ha of coastal protective forests to a coastal forest protection and development programme serving climate change adaptation and green growth promotion for 2021-2030. (Photo: VNA)
Hanoi (VNA) – The Ministry of Agriculture and Rural Development has recommended that the Government adjust down the investment of a World Bank-funded project serving forest sector modernisation and coastal resilience enhancement from the initial 195 million USD to 95 million USD.

The ministry attributed the proposed adjustment to a reduction in the forest planting area and certain infrastructure projects, 

According to the ministry’s Management Board for Forestry Projects, the project was approved by the Prime Minister on April 21, 2017. It began to be implemented in the beginning of 2022.

The implementation time has been delayed by four years due to adjustment procedures, the negotiation and signing of loan agreements, historic floods in central provinces, and COVID-19 pandemic. Therefore, there have been many changes in terms of forest planting area compared to the initial commitments. The land earmarked for the project has decreased from 69,000ha to nearly 42,000ha.

Pham Hong Vich, deputy head of the board, stated that despite the reduction in the area for planting, restoration, and protection of forests compared to the original design, the overall goal of the project, which is to improve the management of coastal forests in eight localities, remains unchanged. This is because the remaining area covers coastal villages, and is designated as coastal protective forests.

Furthermore, the reduction does not affect the effective use of the project's fund. The reduced volume also corresponds to the amount of funding that the ministry is proposing to cut for the project, he noted.

According to Vich, the project has so far contributed nearly 4,000ha of coastal protective forests to a coastal forest protection and development programme serving climate change adaptation and green growth promotion for 2021-2030. It has also invested in 23 forest protection works, improved livelihoods, and increased income for 25,000 beneficiary households.

The project has been implemented in the eight provinces and cities of Quang Ninh, Hai Phong, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, and Thua Thien Hue./.
VNA
#Ministry of Agriculture and Rural Development #Government #World Bank-funded project #coastal resilience enhancement #Vietnam #VietnamPlus #Vietnam news
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